What is real-time data?
Your opportunities don’t last forever. Delaying a response and acting outside of a narrow time window significantly reduces the chances of success.
Acting on data in real-time is about immediate versus delayed. Fast versus slow. Now versus later.
Real-time data is about...
Accurate fraud detection within milliseconds to avoid millions of dollars of fraud loss
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Big-picture views of your business to improve operational efficiency and reduce costs
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It’s about taking action right now.
In today’s data-driven world, real-time data entails meeting a business service-level agreement (SLA) with a narrow time window. Real-time is important because meeting the SLA creates business value.
Taking action the moment an opportunity presents itself, as opposed to after the fact, is where true value lies.
The best outcomes occur when we take action…
- while the customer is banking
- when the customer is shopping
- during a fraudulent event
- before a process breaks
- when a patient needs attention, etc.
Faster than the speed of write.
Writes are slow. So why are you waiting to write to your database before acting on your data? In today’s on-demand world, immediacy is the expectation, not the exception.
Others claim to deliver real-time while waiting on databases and/or other services, causing lag and processing data after the event and missing out on real-time benefits. With Hazelcast, there’s no waiting on the write to the database.
Real-time responsiveness is often seen as an advantage with a sliding-scale tradeoff – the more real-time you have, the more resources you invested. But that’s no longer true because, with the right technologies, you can get real-time responsiveness with the same — or even less — of the resources that you need with traditional systems that make your stakeholders wait.
How does real-time data apply to you?
Most things in your life are in real-time, and these are things we naturally accept, like weather changes, stock price fluctuations, or emergency phone calls.
These are just a few examples where businesses can get value by delivering immediate responses to recent events:
Payments and banking
Retail and logistics
Industrial Internet of Things (IIoT) – predictive maintenance
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The Real-Time Thesis
Read our Real-Time Thesis White Paper to get our take on how the digital world is evolving to address the immediate needs of customers and various stakeholders.
A Real-Time Reference Architecture for Data-Driven Businesses
This Real-Time Architecture White Paper gives you ideas on the architecture needed for pursuing a real-time business.
Solving the Challenges You Will Face in Your Pursuit of Real-Time
Watch our recent webinar recording to learn how you can accelerate real-time deployments.
Why use Hazelcast for real-time?
Hazelcast Platform enables actions to be taken without the need to write to a database first, eliminating a common cause of latency. Proven linear scalability and high performance allow Hazelcast to handle your dynamic real-time workloads.
A complete stream processing platform means fewer system components are needed for your real-time solution, simplifying system architectures and DevOps.
Field-tested high availability and disaster recovery capabilities, along with comprehensive security controls, help businesses power their critical 24/7 operations.